As a new immigrant to our country, you’ll be experiencing all kinds of exciting changes – some good and some shocking. One thing you’ll notice is how different finances are in Canada. We do our best at Remitbee Online Money Transfer to making the remittance side of your finances cheap and easy. But there are other aspects of your finances where extra money help is needed.
This is a quick guide to help you manage your finances as a new immigrant to Canada!
Using banks in Canada is essential. From getting paid for work to showing bank statements for loans and mortgages – you will need a bank account to live in Canada. It’s very simple. Here are a few things you should know:
As a new immigrant, you may need to use banking services regularly. Banking in Canada can be done from any branch of your bank. You need your banking details, and you are good to go! Some extra things to take into mind:
Or, you can avoid ques and do banking online.
Choosing a bank is as simple as comparing what they offer. Do this online at their websites, or by calling the bank or visiting a branch. Don’t feel intimidated! Every bank will have a customer service department or helpline to explain.
These are some common financial things you’re going to come across:
The Canadian government offers free financial & even job-search guidance via settlement agencies. You don’t need to waste money on expensive professional services unless you really want to and have buckets of money to spare. A good place to start is your nearest newcomer services for money help.
You can’t carry over your credit score from your original country. Rebuilding your credit score can be as simple as taking out a credit card and paying it off on time. You should speak to your free settlement advisor about how to build your credit score!
We know it can be daunting when you need to sort your finances out for the first time. But please, don’t get overwhelmed! There are many immigrant communities across Canada that can help you.
At Remitbee we’ve made the remittance side of your finances very simple. Send money back home to your family in just a few taps. Download the app and sign up to learn more.
That will be another finance task ticked off your list!
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